
Fig. 1
Phillips curve

Fig. 2
(a) Case of y‘(L)=0 (constant returns to scale) and (b) case of y‘(L)>0 (increasing returns to scale)

Fig. 3
Phillips curve by Otaki and Tamai (2012)


Phillips curve

(a) Case of y‘(L)=0 (constant returns to scale) and (b) case of y‘(L)>0 (increasing returns to scale)

Phillips curve by Otaki and Tamai (2012)
© 2021 Yasuhito Tanaka, published by Faculty of Economic Sciences, University of Warsaw
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